Avail Discounts in Buying Properties

It's another year and the holidays have passed but surely it was ever a good season for most of us. Vacations, family gatherings and reunions last season pushed our budget to its limit. It's about time to start anew especially for prospective home buyers to re-plan finances and adjust savings for next the plan – in buying the dream home.

To start the New Year, I thought "Discounts" are the best thing to consider as you go along planning to when and where to avail property. There are actually many types of discounts you can avail, at different payment terms, stages, seasons and developers.

Avail Now! Big Discounts? Here you go!

1. On 100% Spot Cash payment

- You can avail of maximum discounts if paid within a week from reservation and lesser discount if paid within 30 days.

Discounts

- 5% to 10% of the Selling Price

- Depends on the status of the property, whether it is pre-selling, ready for construction or ready for occupancy properties.

2. On Spot Down Payment

- Paying the spot down payment within a week from reservation. It can be it 10%, 20% or 30% depending on the developer's requirements, but still, you get bigger discount than paying it within 30 days.

Discounts

- 5% to 10% based on the required down payment

- RFO units have no discounts usually as most developers require an outright spot down payment.

- Depending on developers, project sales turnout and inventories, and price of the property.

4. Giveaways Promo

- The most common giveaway promo is gift cards and grocery package during reservations and down payment. Other developers offer electric fan, aircon, phones and others for a spot down payment.

5. Raffle Promo

- Some property developers are very generous and give out raffle promos like: vacation and tour packages, cash prices, appliances, home theater and others for spot down payment. Though raffle promos are very rare.

Did I miss something? There may be other forms of discounts but the above are most common. Just a friendly reminder, this only gives you an idea and overview about discounts in real estate buying. Please do check their promos as discounts as it varies with developer, prices, standard payments, status of properties and seasons. Also, not all developers offer giveaways or promo discounts. Lastly, developers have their own standard discounts and their method of computation is different, please refer to them or ask your seller for updated discount offers.

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